M Options History — February 2021

In February 2021, M traded between $13.72 and $15.95. ATM implied volatility averaged 89.4%, placing in the 23.3% IV rank vs the trailing year. The 30-day expected move averaged 23.5%. IV traded above realized volatility by 3.1% (HV 20d: 86.3%). Max pain ranged from $12.00 to $14.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.46.

Notable Days

  • 2021-02-25: Highest Volume — 130,928 contracts
  • 2021-02-04: Largest IV drop — 18.1% change
  • 2021-02-02: Highest IV Rank — 50.1%
  • 2021-02-01: Largest Expected Move — 30.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.07$13.72$15.95$14.68$15.41
Max Pain$13.68$12.00$14.00$12.00$14.00
ATM IV89.4%73.5%136.1%127.9%74.0%
Expected Move23.5%20.5%30.6%30.6%21.3%
HV 20d86.3%57.2%96.4%88.4%57.2%
HV 60d80.3%73.3%88.6%87.0%73.3%
IV Rank23.3%13.8%50.1%45.4%13.8%
IV Percentile45.1%21.8%93.3%88.9%22.2%
Term Structure0.1%-46.6%69.2%69.2%-4.7%
VWIV85.8%72.4%125.5%125.5%75.7%
Skew 25d3.1%-11.4%63.0%30.3%-3.4%
Skew 10d-0.7%-26.6%76.2%32.7%-8.5%
Call IV 25d88.1%72.9%110.1%110.1%79.4%
Put IV 25d91.2%74.9%160.9%140.4%76.0%
Bid-Ask Spread %11.286.0218.517.1510.80
Gamma HHI0.140.080.460.080.34
Net GEX2.9M845.8K7.3M2.0M7.3M
Net DEX-159.3M-201.5M-112.3M-167.3M-154.7M
Net VEX-1.0M-1.1M-957.7K-1.1M-995.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.460.200.840.210.26
Total Volume55,750.52621,281130,92859,81650,360
Total OI611,514.211446,424695,936612,587559,769

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-02-01$14.68$12.00127.9%30.6%88.4%45.4%125.5%30.3%69.2%2.0M-167.3M-1.1M0.217.15N/AN/A49,30710,509325,430287,157
2021-02-02$13.72$12.00136.1%25.4%92.8%50.1%97.9%63.0%-46.6%1.5M-115.5M-1.0M0.8411.60N/AN/A41,34234,672344,582289,015
2021-02-03$14.91$12.00114.5%24.2%96.4%37.8%89.2%32.8%8.5%2.8M-182.9M-1.1M0.3112.10N/AN/A35,88211,078359,638302,577
2021-02-04$15.14$14.0093.8%24.3%92.0%25.9%88.8%0.4%25.3%3.4M-189.3M-1.1M0.387.96N/AN/A50,54519,416367,230307,218
2021-02-05$15.10$14.0086.5%23.7%91.4%21.8%87.6%-2.9%0.9%3.6M-183.6M-1.1M0.5713.78N/AN/A32,26218,443380,349315,587
2021-02-08$15.59$14.0085.9%23.6%91.7%21.4%87.7%-3.5%-1.0%2.8M-201.5M-1.1M0.458.15N/AN/A30,72113,784343,482290,173
2021-02-09$15.28$14.0085.2%23.6%92.4%21.0%85.8%-11.4%2.4%2.9M-184.4M-1.0M0.427.22N/AN/A18,9197,916352,826293,109
2021-02-10$15.20$14.0086.1%23.5%91.9%21.5%83.6%-9.3%-2.2%2.9M-181.7M-1.0M0.377.92N/AN/A18,4606,854357,717296,039
2021-02-11$15.19$14.0093.5%22.9%91.9%25.8%81.8%-9.0%-4.1%2.7M-178.2M-1.0M0.7617.70N/AN/A18,89914,352361,340299,645
2021-02-12$14.82$14.0080.2%22.2%91.2%18.2%81.5%-10.0%0.6%1.9M-151.5M-1.0M0.229.59N/AN/A27,1665,967361,908303,925
2021-02-16$15.10$14.0080.1%22.7%87.2%18.1%83.1%-5.6%0.2%2.3M-161.9M-991.9K0.4511.61N/AN/A22,0149,823324,285289,198
2021-02-17$14.82$14.0080.8%23.2%87.1%18.5%83.1%-4.4%-8.2%2.1M-148.4M-966.3K0.7312.32N/AN/A12,2809,001332,403292,271
2021-02-18$14.31$14.0077.7%22.8%87.5%16.7%82.2%-1.8%-24.5%845.8K-112.4M-957.7K0.7818.51N/AN/A23,46418,189333,049297,150
2021-02-19$14.93$14.0082.6%23.3%88.4%19.5%82.7%-0.9%-0.6%4.4M-145.1M-975.8K0.3613.83N/AN/A31,38011,446337,643304,589
2021-02-22$15.27$14.0083.4%23.5%87.9%20.0%83.5%1.3%-1.3%1.2M-112.3M-966.6K0.4311.90N/AN/A79,51934,095221,026225,398
2021-02-23$15.95$14.0077.8%20.5%81.3%16.8%72.4%2.9%-7.1%3.4M-165.9M-975.5K0.526.02N/AN/A62,14132,445262,561244,097
2021-02-24$15.32$14.0073.5%20.7%76.4%14.3%73.7%-1.9%-0.2%3.5M-136.7M-970.4K0.5310.30N/AN/A42,86122,820271,319249,141
2021-02-25$15.53$14.0079.3%23.6%65.8%16.9%85.0%-7.7%-4.7%4.5M-154.3M-1.0M0.2015.89N/AN/A109,54221,386279,685256,239
2021-02-26$15.41$14.0074.0%21.3%57.2%13.8%75.7%-3.4%-4.7%7.3M-154.7M-995.5K0.2610.80N/AN/A40,00210,358306,537253,232